Lan Kwai Fong Hong Kong

The United States Federal Reserve Chairman has called on China to ask consumers to spend more and to help address the trade imbalances that contributed to the financial tsunami. He also said the United States should reduce the budget deficit in the long term. Days before the Chairman’s remarks at a conference in California, the US government reported a US $1.42 trillion deficit for the budget year that ended on September 30.

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About 100 people have staged a protest outside the Central Government Offices, calling for measures to alleviate poverty in the territory. The protestors said the Chief Executive, Donald Tsang, had ignored the needs of the poor in his policy address on Wednesday. Sze Lai-shan, the spokeswoman for the Society for Community Organisation, said working class people would not find much employment in the so-called six pillar industries the government planned to develop. She said they would be of greater benefit to professionals and the middle class.
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Henderson Land has sold a duplex in Mid-Levels for HK$439 million. This made the 6,100-square-foot unit on Conduit Road one of the most expensive flats in the world – at more than HK$71,000 per square foot. The developer sold another duplex in the same building for just under HK$400 million. The Chief Executive, Donald Tsang, said officials would closely monitor market changes in the coming months. But he clarified that he wasn’t concerned about overheating in the luxury market.
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